Cryopreservation has been an effective method for long-term storage of biological material. Long-term storage of cells and tissue for use in clinical transplantation is based on the inherent need to collect adequate cells or tissue and to have them available at times that are suitable for transplantation into a patient. For cell-based therapies to fully reach their clinical potential, isolated cell types including PEC aggregates, implantable, semipermeable devices and encapsulated PEC aggregates (VC combination product) need to be preserved for significant periods of time (months to preferably years) so that they can be appropriately banked and distributed for on-demand utilization. Cryopreservation represents one tenable option for long-term preservation. Cell cryopreservation, the process of exposing cells to extremely low temperatures (−80° C. to −196° C.), makes possible the long term storage of living cells. Hibernation and room temperature storage makes possible the short term storage of living cells while maintaining in vivo function.